Digitex Futures, a blockchain-oriented startup founded by Adam Todd, plans to launch its commission-free cryptocurrency futures trading exchange in the fourth quarter of 2018. The team is developing what might become a mainstream product capable of competing with major players of the crypto-oriented futures trading market. Investors will be able to open trading positions for free. The Digitex ecosystem will be fueled by DGTX, an ERC223-based token that is already available for purchase on various cryptocurrency exchanges, including Mercatox, and is listed on Coinmarketcap. The token minting makes it possible to run the exchange without charging fees.
Digitex is Developed by a Talented Development Team in Dublin
After holding a successful initial coin offering, which sold out of DGTX tokens in less than 17 minutes, the Digitex team stepped up to the next major task on their roadmap – building the exchange platform. For this, Digitex has hired a six-strong team of expert developers who, since the beginning of February 2018, have been dedicated to making the product intuitive and customer orientated. The team has achieved impressive results in the last six months.
According to a Digitex from mid-July, Christina Comben visited the development team in Dublin, Ireland, and interviewed the Managing Director, Darragh Sinnott. He revealed that the most challenging part of the platform, in terms of software development, was the order-matching engine, which matches buy and sell orders for the listed assets. Besides that, making a system that runs 24/7 without crashing is also crucial. Nonetheless, the software development division plans to release the screenshots of the exchange platform by the end of the summer. The full presentation of the software will take place this November at the Malta Blockchain Summit, where Adam Todd will be a guest speaker.
The programmers have thought about worst-case scenarios to avoid any potential troubles in the future. Currently, the platform is in testing mode, but we have clear indications that we deal with a genuine futures trading exchange.
Digitex Aims to Compete with Bitmex
Even though the futures trading exchange is not live, Digitex is not afraid to challenge market giants like Bitmex – a futures-trading platform that revolves around Bitcoin. Bitmex handles a huge number of orders on a daily basis. For example, Coinmarketdata shows that Bitmex’s trading volume in the last 24 hours almost reached $6.5 billion.
Digitex will follow Bitmex’s model to a certain degree, but won’t be copying Bitmex’s fee-based revenue generation. While Bitmex is operating with Bitcoin, Digitex has developed its own token and will generate revenue by issuing a certain amount of new coins every year to cover costs, thus avoiding the need to charge traders money for transactions.
Digitex has a transformative potential thanks to its unique platform that uses independent and centralized smart contract rather than centralized account balances. The smart contract was created on Ethereum and holds all account balances. This combination of the centralized matching engine with smart contract-based account balances ensures a fast and reliable trading experience.
Get early access for zero-fee crypto futures trading.
What Should Traders Expect from Digitex’s Platform?
Initially, the exchange will launch with three cryptocurrency assets – BTC/USD, ETH/USD, and LTC/USD. Investors will be able to trade CFDs (Contracts for Difference), a type of futures contract that allows trading an asset without actually owning it. CFDs have been quite popular in the foreign exchange market (Forex), and they have become preferred by both novice and professional traders. The duration of the CFD contract will be 24 hours, and open positions will be automatically rolled over into a new contract on the next day.
As mentioned, the platform will revolve around DGTX. Thus, all account balances, margin requirements, profits, and losses, will be denominated in DGTX tokens, meaning that investors will have to own tokens prior to taking part in the trading process. This allows Digitex to maintain a demand for the tokens to eliminate the fee-based model. Instead, the exchange operator will use an autonomous token issuance system that mints a small amount token each year.
Besides providing zero-fee trading solutions, the new platform will offer a one-click trading interface, liquid futures markets automated market makers, and high-leverage trading solutions, among other features.
Some users might be concerned about scalability issues, especially because Digitex relies on Ethereum. However, this shouldn’t be a problem as the platform mixes blockchain with a centralized system. As Darragh put it:
“Scalability is an issue with Ethereum, but our order-matching engine sits on a centralized server, not on the blockchain. We’re pretty confident that we can have hundreds of thousands of users and they’ll be getting almost instantaneous responses.”
Be sure to join the waitlist to get early access to the Digitex Futures Exchange launching at the end of the year!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
VOLUM (VLM) Announces Commencement of Token Generation Event
ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.
Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.
The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.
“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…
How to Secure Yourself in Relation to Bitcoin: Top VPN Services
Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.
Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.
What is a VPN?
Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.
While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.
Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…
Is it legal to gamble in Bitcoin casino?
Bitcoin entered the world in 2009 and immediately begun a revolution on the cryptocurrency market. Presently, there are more than 700 different digital currencies, but Bitcoin still remains the most used one. However, despite the large business activity around Bitcoin, there is still no international legal law to regulate it.
Key facts on Legality in Bitcoin casinos
Laws and obligations concerning online gambling legislation vary from country to country. There are many jurisdictions that can issue gambling licenses to online casinos. But, these licenses are issued only after the online casino business meets the requirements of the chosen jurisdiction.
The necessity of Gambling License for Bitcoin casinos
In order to make it clean and clear, a reliable online casino will obtain an online gambling license. Among other things, it allows running a legal activity and assures the casino operator’s trustworthy behavior, fair gaming policy and transparency in business operations and gaming software offered to customers. A representative of this kind of casino, such as FortuneJack for example, will have good reviews and reputation, and stable business that is constantly growing and expanding throughout the years. You can also feel the stability by checking the website, and important details such as casino withdrawal time and the number of games offered for playing, as you can examine on Fortunejack.
There is a difference between Bitcoin and Bitcoin gambling legality. There are countries…
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